SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Altira Group LLC (Last) (First) (Middle) C/O RIGNET, INC. 1880 S. DAIRY ASHFORD, SUITE 300 (Street) HOUSTON TX 77077 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol RigNet, Inc. [ RNET ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 12/20/2010
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/20/2010		C		1,484,535	A	$0	2,621,835	I	(1)(2)(1)(2)
Common Stock	12/20/2010		S		383,895(3)	D	$11.16(4)	2,237,940	I	(1)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Series A Preferred Stock	(5)(6)	12/20/2010		C			500,000	(5)(6)	(5)(6)	Common Stock	750,000(5)(6)	$0	0	I	(1)(5)(6)(1)(5)(6)
Series B Preferred Stock	(5)(6)	12/20/2010		C			37,910	(5)(6)	(5)(6)	Common Stock	62,407(5)(6)	$0	0	I	(1)(5)(6)(1)(5)(6)
Series C Preferred Stock	(5)(6)	12/20/2010		C			475,017	(5)(6)	(5)(6)	Common Stock	672,128(5)(6)	$0	0	I	(1)(5)(6)(1)(5)(6)

1. Name and Address of Reporting Person* Altira Group LLC (Last) (First) (Middle) C/O RIGNET, INC. 1880 S. DAIRY ASHFORD, SUITE 300 (Street) HOUSTON TX 77077 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Altira Management IV LLC (Last) (First) (Middle) C/O RIGNET, INC. 1880 S. DAIRY ASHFORD, SUITE 300 (Street) HOUSTON TX 77077 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* ALTIRA TECHNOLOGY FUND IV L P (Last) (First) (Middle) C/O RIGNET, INC. 1880 S. DAIRY ASHFORD, SUITE 300 (Street) HOUSTON TX 77077 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* ALTIRA TECHNOLOGY FUND III LLC (Last) (First) (Middle) C/O RIGNET, INC. 1880 S. DAIRY ASHFORD, SUITE 300 (Street) HOUSTON TX 77077 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. Altira Group LLC is the managing member of Altira Technology Fund III LLC and the managing member and sole member of Altira Management IV LLC, which is the general partner of Altira Technology Fund IV L.P.

2. 1,137,301 shares of Common Stock are owned directly by Altira Technology Fund IV L.P. and 1,484,535 shares of Common Stock are owned directly by Altira Technology Fund III LLC. Altira Group LLC is an indirect beneficial owner of the reported securities held by Altira Technology Fund IV L.P. Altira Group LLC and Altira Management IV LLC are indirect beneficial owners of the reported securities held by Altira Technology Fund IV L.P.

3. These shares of the Issuer's Common Stock were sold by the reporting persons in a registered underwritten public offering pursuant to an underwriting agreement entered into on December 14, 2010. 193,561 of such shares were sold by Altira Technology Fund III LLC and 190,334 of such shares were sold by Altira Technology Fund IV L.P.

4. Represents public offering price of $12.00 per share of common stock less the underwriter's discount of $0.84 per share of common stock.

5. The amount of underlying securities consists of (i) shares of Common Stock issued in connection with the conversion, which occurred immediately prior to the closing of the Issuer's initial public offering on December 20, 2010, of the Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock reported in column 5 and (ii) shares of Common Stock issued to pay the major event preference, which occurred immediately prior to the closing of the Issuer's initial public offering on December 20, 2010, for the preferred stock reported in column 5. The conversion and major event preference are more fully described in the prospectus filed by the Issuer pursuant to Rule 424(b) under the Securities Act of 1933 on December 16, 2010.

6. The Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock had no expiration date. The Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock are owned directly by Altira Technology Fund III LLC. Altira Group LLC is a indirect beneficial owner of the reported securities.

	/s/ William Sutton pursuant to a Limited Power of Attorney filed with the SEC December 14, 2010	12/22/2010
	** Signature of Reporting Person	Date
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